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Winds of Change at Hero Honda
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Pawan Munjal, the CEO of Hero Honda, started a media briefing in December 2010 with the statement: "This is the most important announcement I have made in the last 25 years." The announcement by Pawan Munjal referred to the destiny of Hero Honda, the joint venture (JV) between India's Hero Group (Hero) and Japan's Honda Motor Company (Honda). At the time, the JV was the longest serving strategic alliance in the stable of Honda's overseas ventures and among the very few surviving JVs that were set up in India's automobile market in the 1980s. This was now coming to an end. When Hero Honda ended, many analysts and industry experts predicted a tough road ahead for the newly christened Hero MotoCorp. Some wrote the obituary for Hero's two-wheeler business. However, during the subsequent decade, Hero enjoyed many successes and was looking forward to the Future of Mobility (outlined in its tagline) as it entered a new era in 2022 with Harley-Davidson and other strategic partners to take on the emerging challenges.